Laxmi Dental IPO Surges 23% Jump on BSE, But Misses Grey Market Expectations
On Monday, January 20, 2025, Laxmi Dental shares had a respectable start on the public exchanges. In contrast to the issue price of Rs 428, Laxmi Dental’s IPO listing price on the National Stock Exchange was Rs 542 per share, representing a listing gain of 26.6 percent or Rs 114. In a similar vein, Laxmi Dental’s shares were listed at Rs 528 each on the BSE, which was 23.3% or Rs 100 more than the deal price at which it was first offered.
The success of Laxmi Dental’s IPO listing fell just short of what the grey market had anticipated. According to sources monitoring grey market activity, Laxmi Dental’s IPO GMP (gray market premium) was Rs 145, or 33.88 percent, before the debut.
How Does Laxmi Dental Plan Leverage IPO Proceeds for Strategic Growth?
Laxmi Dental is a comprehensive dental products firm. Custom crowns and bridges, branded dental products like thermoforming sheets and clear aligners, aligner-related products as part of its aligner solutions, and pediatric dental products are all offered by the company.
The proceeds of the initial public offering (IPO) are allegedly used for a number of purposes, including loan repayment, investment in specific subsidiaries to repay loans, financing the capital expenditures needed to buy new machinery, investment in the subsidiary Bizdent Devices to meet capital expenditures needed to buy new machinery, and general business purposes. The IPO was registered through Link Intime India, and the book-running lead managers were SBI Capital Markets, Motilal Oswal Investment Advisors, and Nuvama Wealth Management.
For more up-to-date crypto news, you can follow Crypto Data Space.
Leave a comment